Interactive Brokers adds SOL, ADA, XRP, DOGE for trading
Source: Coin Tegraph
Interactive Brokers, a global brokerage that recorded $9.3 billion in revenue for 2024, is expanding its altcoin offerings to include four new tokens.
According to a March 26 announcement, the platform has added Solana (SOL), Cardano (ADA), XRP (XRP), and Dogecoin (DOGE) for trading. The four coins have a combined market capitalization of $267.2 billion at this writing.
The additions double Interactive’s crypto offerings to traders. Since 2021, it has enabled trading in Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) pairs.
Both trading and custody services will be provided through Paxos Trust Company or Zero Hash LLC. Zero Hash said in a press release that as of June 2024, it had processed $20 billion in transactions across 200 countries.
Financial firms have been expanding crypto token offerings. On March 25, Nubank announced the addition of ADA, Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO) to its over 100 million clients in Latin America. US exchange Kraken has been steadily adding memecoins for a number of months, while Binance introduced a way for community members to vote on the listing and delisting of tokens.
Amidst an increasingly competitive crypto market, Interactive Brokers is promising low transaction fees — 0.12% to 0.18% per transaction value with a minimum of $1.75 per trade. The brokerage still faces competition from exchanges that offer “pro” platforms with similar charges.
Related: CZ admits Binance token listing process is flawed, needs reform
Crypto markets see more regulation, more adoption
Companies’ moves to expand crypto offerings comes amid a broader shift in how nation-states engage with the industry — moving toward collaboration rather than outright suppression. The European Union’s MiCA regulation has delivered in a clearer framework for crypto companies operating in that region, while the United States has been betting on the use of stablecoins to preserve the dollar global dominance.
The US Securities and Exchange Commission has dropped cases against a number of crypto companies, and the US Congress is currently working on stablecoin and market structure legislations.
Although crypto markets have recenlty experienced turbulence due to uncertainty surrounding US tariffs and fears of recession, institutional investors still appear optimistic crypto investments. Since debuting in January 2024, Bitcoin exchange traded-funds have attracted a cumulative net inflow of $36 billion, according to SoSoValue.
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